LTC Properties (NYSE:LTC) Sets New 12-Month High – Time to Buy?

LTC Properties, Inc. (NYSE:LTC)’s share price reached a new 52-week high on Tuesday . The company traded as high as $37.33 and last traded at $37.47, with a volume of 153610 shares. The stock had previously closed at $36.92.

Analyst Upgrades and Downgrades

LTC has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada lifted their price target on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective for the company in a report on Wednesday, September 24th. Cantor Fitzgerald set a $36.00 price target on shares of LTC Properties in a research report on Monday, January 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.60.

LTC Properties Trading Up 1.6%

The stock’s fifty day simple moving average is $35.37 and its two-hundred day simple moving average is $35.49. The firm has a market cap of $1.79 billion, a PE ratio of 52.08 and a beta of 0.62. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The business had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $65.94 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, March 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. LTC Properties’s dividend payout ratio is presently 316.67%.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average cost of $34.44 per share, with a total value of $344,400.00. Following the transaction, the executive vice president owned 25,626 shares of the company’s stock, valued at $882,559.44. The trade was a 64.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David L. Gruber bought 4,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $35.41 per share, for a total transaction of $141,640.00. Following the completion of the purchase, the director owned 28,738 shares in the company, valued at approximately $1,017,612.58. The trade was a 16.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 15,000 shares of company stock valued at $521,980. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On LTC Properties

Large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System lifted its holdings in shares of LTC Properties by 2.1% during the 2nd quarter. Maryland State Retirement & Pension System now owns 13,498 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 283 shares during the period. GAMMA Investing LLC increased its position in LTC Properties by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,999 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 288 shares during the last quarter. IFP Advisors Inc lifted its holdings in LTC Properties by 21.2% in the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 296 shares during the period. Jones Financial Companies Lllp boosted its position in LTC Properties by 75.0% in the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 300 shares during the last quarter. Finally, ORG Partners LLC grew its stake in shares of LTC Properties by 2.3% during the 3rd quarter. ORG Partners LLC now owns 15,839 shares of the real estate investment trust’s stock valued at $584,000 after purchasing an additional 350 shares during the period. Institutional investors own 69.25% of the company’s stock.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.